Ian Reynolds
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Overnight
Economic Indicators Released Overnight
Only the higher than expected US Pending Home Sales overnight but non-sovereign assets spiked in the face of multiple geopolital threats, aided and abetted by a potential US Govt shutdown tomorrow.
From Tuesday however we'll be back to economics with the JOLTS report.
Beware commentators confusing lower job openings with recession. JOLTS ha been steadily decreasing since COVID so only a huge miss (lower) will mean anything.
Gold punches through $3,800 an ounce as risk of US shutdown rattles markets [FT]
Breaking
Bitcoin
A strong surge from Bitcoin overnight, helped by Gold and Silver. Read more
Commodities
Another day, another Gold spike. No news just continual buying. Read more
Foreign Exchange
EURO continues to trade well as price couldn’t confirm below support. Read more
Equities
Not much going on but price gaps higher and stays there. We’re drifting up against a crescendo of crash predictions. Those 2 resistance lines will prove a test for the market as price has to make a definitive statement in the next 2 weeks. Read more
Bonds
Trump/Bessent won’t agree but bond market has done well to stay steady amidst the opposing forces of recession/debt. Read more
US 10 Year Government Bond Yield Daily
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Economic Indicators Today
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